Qantas forced to ground planes as dispute deepens October 18, 2011 AUSTRALIA’S Qantas Airways has grounded two more planes due to an escalating industrial dispute which threatens to disrupt thousands of domestic flights leading up to the crucial Christmas period. Qantas warned yesterday of a maintenance backlog as aircraft engineers threatened to continue work bans until the end of the year, sending its shares down more [...]
Basel III and derivative rules get FSB priority October 18, 2011 THE FINANCIAL Stability Board (FSB) published its top six priorities for banking reform yesterday. Basel III, OTC derivative reforms, pay changes, systemically important bank measures and resolution frameworks were all declared to be FSB priorities. The body plans to track progress towards the implementation of legislation promoting these G20 initiatives. The selection process was “based [...]
Lloyds is harnessing the 2012 Games as a transformational opportunity October 18, 2011 COUNTDOWN TO THE LONDON 2012 OLYMPIC GAMES 282 DAYS TO GO Sally Hancock sets out why Lloyds Banking Group became a partner of the 2012 Olympics Q. What was your brand’s primary reason for being involved with the Games? A. We became the first National Partner of the London 2012 Olympic and Paralympic Games for [...]
It is time that business got its hands dirty – by helping rebuild the nation’s schools October 18, 2011 FOR business leaders there can be few, if any, more critical issues than the way that we educate the workforce of tomorrow. How the UK approaches education reform over the coming years will determine how successfully it closes the skills gap that threatens our future prosperity. So any good business leader knows that he or [...]
The City must be on guard for the EU’s legal angels October 18, 2011 FROM its inception, the EU has not been a simple, straightforward entity with clear rules and methods of working. Each EU treaty is an amendment of the previous one – and incorporates any number of opt-outs, derogations and allowances, not just for “national specificities” but also to allow latitude of interpretation for the EU institutions [...]
There is zero virtue in involuntary high taxes October 18, 2011 WARREN Buffett has famously claimed that he is happy to pay a higher rate of income tax. He figures that, given all he has gained from society, it is only right that he give a lot back. President Obama’s proposed new tax on incomes above $1m has even been dubbed the Buffett tax. This week [...]
RAPID RESPONSES October 18, 2011 Innovation first Norman Lewis makes some good points [Steve Jobs was an amazing businessman – but Einstein’s the genius behind the iPod, yesterday] but while pure science is clearly important, many innovations precede the science. We flew long before we knew how, we used electricity long before we understood what it was and we continue [...]
Exiting difficulties give illiquid Scandis limited appeal as a safe haven October 18, 2011 WITH no end in sight for market volatility, options are dwindling for investors seeking safe haven currencies. Six weeks ago, the Swiss National Bank (SNB) made the bold move of putting a floor under the euro-Swiss franc exchange rate at SFr1.20. When it announced the move, the SNB said that it would protect the franc [...]
FAITH IN EU SUMMIT IS MISPLACED October 18, 2011 THIS week the focus in the currency market is squarely on the EU summit scheduled for 23 October, but the event itself may prove to be anticlimactic and could serve as a perfect sell- the-news moment even if the Eurozone officials manage to produce a reasonable plan to deal with the sovereign debt crisis. Over [...]
THE TIPSTER October 18, 2011 The rally in sterling from recent lows has hit the skids in the last few days, with sterling-Japanese yen playing the technical levels beautifully again. After topping out almost exactly on the 50-day simple moving average at ¥122.47 and just above trend-line resistance going back to the April highs of ¥139, it has pulled back [...]
